Homework on High Availability - Questions
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Why is it important for blockchain networks to be high availability networks?
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What is it that enables blockchain networks to have such high availability?
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If a blockchain is being use for financial transactions for example. If the network was up sometimes when you went shopping it would be pretty much useless.
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Blockchain can be always on as copies of the ledger are globally shared. If all the systems in North America went done the Blockchain would keep running everywhere else.
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1- Because they are global and people need to use it all the time.
2- Incentives, in another word mining. and by globalizing it. and making it run 24/7
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1)because network gose down the work will not happen
2)inctives
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It is important for blockchain networks to be high available networks because a secure global infrastructure is needed.
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The nodes enable blockchain networks have a high availability because if one goes down there is a copy of the ledger on all of the other computer.
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- Because everybody take money seriously
- Incentives, financial incentives
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Why is it important for blockchain networks to be high availability networks?
It is important to have high availability as this provides more computational power to secure the network in providing security through consensus the more computers the more copies of blocks, level of consensus and reliability.
What is it that enables blockchain networks to have such high availability?
Financial reward is provided through mining. Mining is difficult on a high volume network, it requires significant investment and resources and truth is rewarded whilst loss of trust will be recognised on the node and no incentive will be earned.
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I think bittorrent should get an honourable mention on high availability.
I would argue that its the longest running application along with other p2p networks like Kademlia. From which Bitcoin got some inspiration from.
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It’s important because it’s a major component of why they are valuable as a system of use. Additionally, if the their availability decreases significantly or for a long duration, that would signal a potential vulnerability. This vulnerability is due to fewer miners securing the network. This would suggest there is a direct correlation between the availability of the network and its current state/level of security.
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Incentives to make money.
I appreciate any additions or corrections! (The second answer was a bit lazy, but I touched on it in #1, and it was either that or an essay.)
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High Availability
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A global network needs to be open 24/7 365 days a year to enable anyone in the world to access it and Blockchain achieves this.
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Blockchain is able to achieve high availability through incentives or block rewards given to miners. These rewards are automatically adjusted depending on the demand of the network
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Why is it important for blockchain networks to be high availability networks?
It’s the same as a central database. It must be available 24x7. -
What is it that enables blockchain networks to have such high availability?
The incentives to bring nodes in the air that keep the network available.
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- Why is it important for blockchain networks to be high availability networks?
Because it can be accessed 24/7 and 365 days/year.
- What is it that enables blockchain networks to have such high availability?
Because miners are incentivized to participate in the network. Everyone wants to make money. When for some reason they are less miners, difficulty decreases and new miners are incentivized to jump in.
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- High availability ensures security and builds trust
- Incentivisation
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Why is it important for blockchain networks to be high availability networks?
Because blockchain networks are globe infrastructure, if some parts of them are out of use, others will join in and provide the security.
What is it that enables blockchain networks to have such high availability?
Incentive, everyone wants money or reward.
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It is important for Blockchain Networks to be HA networks because this is one of the unique features that Blockchain bring on the table. Most of the High level Global networks have the requirement of being available 247365 days due to different work hours, work days and different time zones. One of the reasons that Blockchain has been mostly implemented in monetary assets and trading zones is due to 24*7 HA nature of it, as monetary and funds data are classified as most critical for HA.
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Blockchain Networks can offer such high HA due to their design. They offer no-single-point-of failure; no-single-point-of-control; Network of Nodes that are available across the globe.
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Blockchain networks require high availability because a new block could need creating at any time and a node would need to be available to read the public ledger
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Incentivisation gives the network high availability
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- Why is it important for blockchain networks to be high availability networks?
As blockchain is a global infrastructure - availability needs to remain high to enable constant business / industrial and social interaction.
- What is it that enables blockchain networks to have such high availability?
Miners are incentivized by profit and also if a portion of the blockchain goes down then it remains active due to the shared ledger across the global network.
9 Likes
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It is very important because in case of transactions, the users need to be able to make a transaction whenever they want 24/7/365 from wherever they need to.
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The fact that the blockchain is a network of nodes that keep a local copy of the ledger each, enables it to have such high availability. If some nodes will exit the network because of outage, there will be other that will serve the users.
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- Why is it important for blockchain networks to be high availability networks?
Because it needs to be available 24/7/365 for example: payments, contracts, …
- What is it that enables blockchain networks to have such high availability?
Decentralization
4 Likes